Kasota, Minnesota Property Taxes
The median property tax rate in Kasota, MN is 0.95%, slightly lower than both the national median of 0.99% and the Minnesota state median of 1.11%. With the median home value in Kasota at $272,350, the typical annual property tax bill reaches $2,391, which is below the national median of $2,690. Property taxes in Kasota are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Kasota's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Kasota or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kasota, Minnesota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$2,587
Ownwell’s Kasota Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kasota with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kasota to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Kasota, Minnesota
Property taxes in Kasota, Minnesota, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kasota is 0.95%, slightly below the U.S. national median of 0.99%. Local government entities within Kasota set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kasota estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Kasota's effective property tax rate to other areas in Le Sueur County and the national median. For comparison, the 56050 zip code has both the highest and lowest median property tax rate of 0.95%. Understanding how these areas compare with Kasota provides valuable insights into the varying tax landscape across Le Sueur County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kasota Tax Rate
0.95%
Average Le Sueur County Tax Rate
1.14%
Average Minnesota Tax Rate
1.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kasota, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56050 | 0.77% | 0.89% | 0.95% | 1.00% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Kasota, Minnesota
In Kasota, Minnesota, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Le Sueur County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Kasota, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Kasota helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 56050 has both the highest and lowest median tax bill at $2,391.
Average Kasota Assessed Value
$272,350
Average Le Sueur County Assessed Value
$290,800
Average Minnesota Assessed Value
$290,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kasota, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56050 | $63,570 | $155,825 | $272,350 | $396,400 | $566,780 |
Source: Ownwell
Property Tax Bills Across Kasota, Minnesota
In Kasota, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the home's size, age, location, and any improvements made to the property. For homeowners in Kasota, the median home price is $272,350. Property tax bills can vary significantly, with the 25th percentile at $1,386 and the 75th percentile reaching $3,830. At the higher end, the 90th percentile tax bill can be as much as $5,542. The highest and lowest median tax bills in the area are both $2,391, reflecting a consistent tax rate within the zip code 56050. Compared to the national median property tax rate of 0.99%, homeowners in Kasota may find their property taxes to be relatively moderate, depending on their specific property's assessed value and the applicable tax rate. This can have a significant impact on household budgeting and long-term financial planning.
Average Kasota Tax Bill
$2,391
Average Le Sueur County Tax Bill
$3,200
Average Minnesota Tax Bill
$3,182
Average United States Tax Bill
$2,690
Property Tax Bills Across Kasota, Minnesota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 56050 | $567 | $1,386 | $2,391 | $3,830 | $5,542 |
Source: Ownwell